BRAZIL’S hosting of the 2016 Olympics will boost the South American country’s economy significantly, Finance Minister Guido Mantega estimated on Saturday.

Speaking at a press conference on the sidelines of the International Monetary Fund (IMF) annual assembly here, Mr Mantega said Rio de Janeiro winning the Games would have a positive effect throughout the economy.

‘It’s recognition that the Brazilian economy is showing more positive results and is in the process of growing more. That will also boost the process of growth in Brazil. That will stimulate it even more,’ said Mr Mantega.

‘We’re going to have to create an infrastructure, there are going to be investments and that will attract foreign investors, thanks to whom the economy will move in a positive way.’ Mr Mantega believes that tourism is one of the areas which will benefit most from the Games.

‘Brazil will become better known and the infrastructure will improve with the construction of hotels.’ And Mantega revealed that they had already been offered the support of 2008 Olympic hosts China.

‘China have offered to help us with their know how in Olympic matters,’ he added.

Brazil have increased their political and economic ties with China in recent years, culminating in the first summit of the so-called BRIC emerging economies – Brazil, Russia, India and China – in June.